Chief Executive CY Leung says it is the Government's duty to take action in the interest of society and it is worth discussing whether economic policies set 40 or 50 years ago are still applicable today.

He told reporters ahead of an Executive Council meeting this morning that other regional governments have also been actively working on taking forward economic development and improving their enterprises' competitiveness.

Mr Leung added that each year in the Policy Address, he lists out the Government's plans to develop the economy and improve people's livelihoods, noting that in the past few years, the Government has taken action to tackle shortages in areas that affect livelihoods, such as obstetric services, milk powder and housing supply.